Live blog: Ukraine needs $3B in financial aid per month in 2024 — Kiev

Wednesday, February 28, 2024

1726 GMT — Ukraine needs about $3 billion in foreign financial aid on a monthly basis to get through 2024, Finance Minister Serhiy Marchenko said, highlighting the challenges Kiev faces as US support begins to falter.

Marchenko said Ukraine's macroeconomic stability during the war with Russia had been possible due to a steady inflow of international financial aid from Kiev's allies, something he added remained crucial this year.

"In 2024, the monthly need for external financing will reach about $3 billion. We cannot allow a delay in attracting external financing," Marchenko said in a statement.

Ukraine has received more than $73 billion in financial aid from its Western partners in the two years since Russia launched its full-scale military incursion in February 2022.

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1741 GMT — G7 finance meeting marred by divisions over seizing Russian assets

French Finance Minister Bruno Le Maire publicly challenged US Treasury Secretary Janet Yellen's view that it would be legal to monetise some $300 billion in frozen Russian assets, revealing deep divisions among Group of Seven countries.

Le Maire, speaking after a G7 finance officials meeting, rejected the US position outright and said France was convinced that there was no sufficient basis in international law to proceed, and further work was required.

He said any such moves should be fully underpinned by international law and required the support of all members of the Group of 20 major economies — which includes Russia, China and other countries that have been critical of the United States.

1719 GMT — Six-year-old girl, priest killed as Russia bombs northeast Ukraine: officials

Russia bombed parts of Ukraine's northeastern Kharkiv region, killing four civilians, including a six-year old girl and a priest, regional officials and the interior ministry said.

The 58-year-old priest was killed in the centre of the frontline city of Kupiansk after being buried under the rubble of a church that was hit, Kharkiv's governor Oleh Synehubov said.

A 39-year-old man in a nearby cafe was also killed. At least 12 residential houses were damaged when Russia dropped FAB-500 bombs on the city, which is some 40 km (25 miles) from the Russian border, Synehubov said.

1717 GMT — Poland mulling 'temporary' border closure with Ukraine for goods

Polish Prime Minister Donald Tusk said the government was mulling a "temporary" closure of the border with Ukraine for goods, amid tensions over low-priced Ukrainian grain.

Polish farmers have been blocking border crossings with Ukraine and other highways to protest at what they say is unfair competition from goods entering the Polish market from their war-torn neighbour.

"We are talking with the Ukrainian side about a temporary closure of the border, the cessation in general of trade," Tusk told reporters. "I will also discuss this with Polish farmers tomorrow. This solution would only be temporary ... and mutually painful," he added.

1646 GMT — Ukraine seeks arms from Balkan countries at summit in Albania

Ukraine's President Volodymyr Zelenskyy promoted his idea of joint arms production to support a vision for peace.

"We are interested in co-production with you and all our partners," Zelenskyy said at the two-day Ukraine-Southeast Europe Summit with the leaders of Albania, Bulgaria, Serbia, North Macedonia, Kosovo, Bosnia and Herzegovina, Montenegro, Croatia, Moldova and Romania in the Albanian capital of Tirana.

"Our governmental team will present the details. We propose to hold a special Ukraine-Balkans Defence Industry Forum in Kiev, or in one of your capitals."

1609 GMT — Türkiye ready to again host peace negotiations between Russia, Ukraine: Erdogan

Türkiye is ready to again host peace negotiations between Russia and Ukraine, Turkish President Recep Tayyip Erdogan said.

In a video message sent to the Ukraine-Southeast Europe Summit, Erdogan said he maintains his view that diplomacy and dialogue should be given a chance for a "fair and lasting resolution" of the Ukraine war, which began in February 2022.

"To achieve this goal, utilising diplomatic channels at the highest level from every possible avenue is of great importance," Erdogan said.

"Türkiye's support for Ukraine's independence, sovereignty, security and territorial integrity is well known to all. We are also making every effort to protect the rights and interests of our Crimean Tatar compatriots," he added.

1606 GMT — Belgium announces more than $216M in additional military aid for Ukraine

Belgium announced $216.7 million (€200 million) in additional military aid for Ukraine.

"Belgium is stepping up with €200 million in ammunition aid, aligning with the initiative of Czech President Pavel," Foreign Minister Hajda Lahbib wrote X.

"Ukraine's fight for freedom is also about respecting our values and ensuring our security," she wrote and added that Belgium will support Ukraine for as long as it takes.

1557 GMT — Russia claims capturing two settlements in Ukraine

Russia said it further advanced in the eastern Avdiivka district in Ukraine, claiming two more settlements had been captured over the past day.

Settlements of Pobieda and Stepove are now under Russian control, the Defence Ministry said in a statement.

According to Dmitry Likhovoy, a Ukrainian military spokesman, troops had pulled back voluntarily to terrain more suitable for defence.

1557 GMT — 'It's time to start conversation' on using profits of frozen Russian assets to arm Ukraine: EU chief

The European Commission head said that "it is time to start a conversation" about using frozen Russian assets to purchase military equipment for Ukraine.

Speaking at the European Parliament's plenary debate on European security and defence, Ursula von der Leyen said that Europe should urgently start working on the future of its security architecture in the face of threats such as the "aggressive economic competition" and the ongoing war in Ukraine.

"The continuing war in Gaza and the large-scale destabilisation in the Middle East point to an era of insecurity and conflict in the region and beyond," von der Leyen added.

0826 GMT — EU should consider using frozen Russian asset profits: von der Leyen

The European Union should consider using profits from frozen Russian assets to buy military supplies for Ukraine, European Commission President Ursula von der Leyen has said.

"It is time to start a conversation about using the windfall profits of frozen Russian assets to jointly purchase military equipment for Ukraine," she told the European Parliament in a speech urging the EU to do more on defence policy.

"There could be no stronger symbol and no greater use for that money than to make Ukraine and all of Europe a safer place to live."

0801 GMT — Chinese envoy to visit Ukraine, Russia, EU headquarters: Beijing

China's Eurasia envoy Li Hui will visit Russia, Ukraine and the headquarters of the European Union this week for talks on the two-year-old war between Moscow and Kiev, Beijing has announced.

The trip will represent "the second round of shuttle diplomacy on seeking a political settlement of the Ukraine crisis", China's foreign ministry said in a statement, adding Li would also go to France, Germany and Poland.

Li visited the region last year as part of efforts to mediate the conflict, holding talks in Moscow, Kiev and a host of European capitals.

0650 GMT — Pro-Russia rebels in Moldova region convene amid escalating tensions

Pro-Russian rebels in Moldova's breakaway region of Transnistria have geared up for a rare meeting, amid fears the territory could open a new flashpoint in Moscow's conflict with neighbouring Ukraine.

The thin slither of land has been de-facto controlled by pro-Russian forces since the collapse of the Soviet Union, but is internationally recognised as part of Moldova.

Transnistria will hold a special congress today, only the seventh in its history, amid a deepening row with the Moldovan government over customs duties.

0646 GMT — Zelenskyy to rally for support at Albania security summit

Ukrainian President Volodymyr Zelenskyy is due to meet with leaders from southeast Europe in Albania today, seeking to keep support and weapons flowing to Kiev as Russia makes gains on the battlefield two years after attacking its neighbour.

Zelenskyy has been crisscrossing the globe in recent weeks to rally support for his beleaguered country, as Ukraine's armed forces face a critical shortage of ammunition and struggle to hold back Russia's military advances on the ground.

He arrived in Albania late Tuesday and on Wednesday was due to meet in Tirana with several leaders from across the region during the "Ukraine-Southeast Europe Summit" — his first visit to the Balkan nation since Russia's offensive in February 2022.

0526 GMT — Ukraine says it destroys all 10 drones Russia launched

Ukraine's air defence systems has destroyed all 10 attack drones Russia launched overnight, Ukraine's air force said.

The air force said on the Telegram messaging app that Russia also launched S-300 anti-aircraft guided missiles on Ukraine, but the air force did not say whether the missiles reached their targets.

0024 GMT — Ukraine intel committee warns of bid to overthrow Zelenskyy

Ukrainian President Volodymyr Zelenskyy's legitimacy may be questioned and a coup may be attempted in the spring, a high-ranking committee said.

Russia's "Maidan-3 special operation will reach its climax in March-May 2024," the Intelligence Committee under the President of Ukraine said in a statement published on the Telegram channel of the Main Directorate of Intelligence (GUR) under the Ministry of Defense of Ukraine.

According to the committee, in the coming weeks, there will be "attempts to foment conflicts both inside Ukraine and in other parts of the world," and Zelenskyy's legitimacy may be questioned after May 20.

2256 GMT — Zelenskyy lands in Albania ahead of security conference

Ukrainian President Volodymyr Zelenskyy has arrived in Albania ahead of a security conference, his first visit to the Balkan nation since Russia's aggression.

In a post on social media, Albania's Foreign Minister Igli Hasani called the Ukrainian leader's arrival in Tirana "a pivotal moment for fostering bilateral ties, and standing in solidarity with Ukraine in its heroic fight against Russia's aggression".

Zelensky has been criss-crossing the globe in recent weeks to rally support for his beleaguered country, as Ukraine's armed forces face a critical shortage of ammunition and struggle to hold back Russia's military advances on the ground.

For our live updates from Tuesday, February 27, click here.